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IAC Beats Estimates With HomeAdvisor a ‘Standout’ Unit

February 1, 2017

BY JING CAO - BLOOMBERG

IAC/InterActiveCorp beat analysts’ estimates for revenue and profit in the fourth quarter, an achievement Chief Executive Officer Joey Levin partly attributed to success in what he called the company’s “standout” business in online home repair and improvement services.

HomeAdvisor, the fastest growing group in IAC’s portfolio with regular sales increases of 30 percent or more, reported $123.7 million in revenue in the fourth quarter, according to a statement Wednesday from IAC. Full-year sales growth also accelerated from 2015. According to Levin, HomeAdvisor spent many years building the product and 2016 was mainly about selling and marketing it.